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Climate protesters to 'flood' Wall Street on Monday


freebuddy

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No, not to control corporations. It's interesting that you counter what you call editorializing with pulling the very same thing.

Take the financial crisis..

If "regulations" were allowed to run the day, there'd have never been a subprime market.

Instead, Democrats thought of a wonderful idea.. how about we pass legislation undermining the regulations we already have, subsidizing the subprime market, and guaranteeing loans to people banks wouldn't issue that kind of credit to on their own! We can call it "giving houses to the poor".

Of course, all that wound up being was a mandate to the housing market and predatory lending.. causing a housing bubble and increasing the default risk of the subprime market.

I could go further into depth about this, but the solution here was for government to keep what regulations it had and stay out, let the banks determine who they want to issue credit to, and deal with the repercussions of their loans on their own. If the government were out of the way, instead of incentivizing, then guaranteeing bad loans, banks and credit issuers in general would be more cautious who they would be issuing credit to. Whenever government gets involved in the economy, more often than not, they directly support and encourage stupid economic behaviour companies otherwise wouldn't do.

Yet once again liberals whined about it being from a lack of regulation. Hard to be about regulation when regulations were in place and the government was deliberately circumventing it's own regulations. But hey, I've got a great idea.. let's do some more regulation!

Hey, for a fun Canadian exercise, check out the amount of loans currently guaranteed by the CMHC, the interest rates and loan availability from Canadian banks relative to their historic policies, the debt load of your average Canadian, the ratio of the housing costs to income throughout the country, the record high bank profits and stock prices, etc. etc. etc. happening right now here in Canada!

Don't worry, everything will turn out fine!

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